In our weekend newsletter we hammered down on one point :  market had broken thru major moving averages and now was overshooting into horizontal support.

This was true of SPY IWM SMH XLF.    We bought all four today in a basket and will swing — our first swing long in many sessions.

Several of our numbers (like SPY 260 outlined in Sunday newsletter) actually hit yesterday but it happened so late in the day that we decided not to swing.  Today was less harried and chill and it wasn’t tough to get long.

SPY 260 horizontal support

XLF 25 horizontal support

IWM 145 horizontal support

SMH 88 horizontal support.

To quote our Sunday newsletter “You see the theme?   Major moving averages have broken without a whimper, and now we are at major horizontal support levels . ”

As an additional boost — IWM is about to break the sour spot:

Stocks are poised — now all we need is the follow through.   Our stops are tight — not going to give this that much room.  If it wants to go, next few days a good time.  AAPL earnings out Thursday will definitely be a factor.

See you on the streams.